Raoul Pal, founder and CEO of Global Macro Investor, makes ambitious statements about the future of digital currencies.
Pal reported on a current development of his portfolio and announced that he will now allocate more than half of his portfolio to BTC alone.
Pal also moves forward in claiming that Bitcoin will be one of the most lucrative assets of the next decade, while the community is discussing this.
The high-profile investor says portfolio allocation is high-risk and not something everyone should follow.
“We are all 100% aware of the downside risk of a 60 vol asset… it’s not an inclusive trade.”
The Global Macro Investor manager says he acknowledges the possibility of Bitcoin going to zero altogether.
To further clarify the BTC allocation apparently, Pal explains that there is a method behind the madness.
“I want to be clear about being an irresponsible long-term Bitcoin investor: I don’t use leverage. I think I have to deal with a 50% drop completely, and that’s okay. Luckily I have an income stream, that’s exactly the key point. ”
In May, Pal said that Bitcoin had entered one of the best technical setups of all time and could be in a long-term orbit of up to $ 1 million.
He Said Before
In a recent tweet, Pal examined the long-term graph of Bitcoin emerging from the recent consolidation. The investor said the benchmark cryptocurrency has a long way to go in terms of time and price.
Pal also said we are facing a major Bitcoin move. Gold is not yet in operation, but stated that the cryptocurrency is about to explode. He stated that he will leave the Nasdaq index “in the dust”.
Trust in BTC Increases Every Day
However, despite the tables showing long-term setups, critics were not impressed. One user argued that legendary investor Jim Rogers believes Bitcoin will one day go to zero. In an interview, Rogers stated that, unlike electronic money, which the government can manage and monitor, virtual currencies are outside the government’s domain.
Still, Raoul Pal is not the only macro investor to rise in Bitcoin. In May, it was widely reported that legendary investor Paul Tudor Jones had 1 to 2 percent of his assets in Bitcoin, calling the cryptocurrency “big speculation.” In an interview, while only time can tell whether Bitcoin will succeed or not, “The only thing I know is that with each passing day the survival of Bitcoin, the more confidence in it will grow,” he said.